Cutforth, Lipsitz and Magical Elves -- which also recently signed an exclusive first look development deal with Bravo's NBC Universal parent company -- are still producing Project Runway's fifth season, which will premiere July 16 and most likely be the last to air on Bravo.
In addition to The Real World, Bunim-Murray also produces E!'s Keeping up with the Kardashians and Living Lohan; Oxygen's Bad Girls Club; and Lifetime's America's Psychic Challenge.
Project Runway is currently slated to make its Lifetime debut in November.
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